Annual Comprehensive Financial Report 2021

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Table 3 2016 2017 2018 2019 2020 <strong>2021</strong> $ 92,413 $ 16,017 $ 7,222 $ 8,085 $ 4,182 $ 21,565 - - - - - - 218,825 218,825 256,527 256,527 256,527 256,527 13,885 20,064 25,482 31,542 34,519 34,519 923 1,017 305 37 3,293 3,293 44,755 35,075 31,169 35,382 73,534 73,534 - - - - 428,796 1,144,757 1,580,167 2,032,692 2,205,015 2,747,209 4,154,178 3,962,045 $ 1,950,968 $ 2,323,690 $ 2,525,720 $ 3,078,782 $ 4,955,029 $ 5,496,240 $ - $ 198,789 $ 32,336 $ 32,336 $ - $ - 98,857 79,449 96,442 85,641 106,055 107,620 155,502 355,991 372,997 6,717,817 8,283,793 13,171,933 118,313 238,186 268,902 327,120 395,547 558,270 - - - - - 2,463,127 6,864,906 12,491,833 13,332,513 11,168,060 25,753,572 21,598,858 7,237,578 13,364,248 14,103,190 18,330,974 34,538,967 37,899,808 $ 7,880,281 $ 15,687,938 $ 16,628,910 $ 21,409,756 $ 39,493,996 $ 43,396,048 65
CITY OF RED OAK, TEXAS CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS (UNAUDITED) (MODIFIED ACCRUAL BASIS OF ACCOUNTING) 2012 2013 2014 2015 REVENUE Property taxes $ 3,751,225 $ 3,842,276 $ 4,081,650 $ 4,177,442 Sales tax 2,430,548 2,754,847 3,020,651 4,072,836 Franchise tax 585,424 577,663 648,314 780,644 Hotel occupancy taxes 83,506 94,877 103,030 122,882 Alcoholic Beverage tax 4,186 5,728 8,224 8,663 Licenses and permits 236,842 321,703 342,782 453,860 Fines and Forfeitures 707,514 744,683 495,823 467,813 Charges for services 399,136 401,870 428,433 456,898 Land sale - - - - Investment earnings 98,132 87,121 103,083 108,996 Contributions - - - - Miscellaneous 100,902 91,657 328,881 274,542 Grants from governmental agencies 600,002 - - - Intergovernmental 224,484 224,921 180,262 339,721 Total Revenues 9,221,901 9,147,346 9,741,133 11,264,297 EXPENDITURES Current: General government 840,664 888,119 1,023,145 1,033,065 Public safety 4,739,546 5,095,260 6,122,424 5,607,528 Culture and recreation 159,214 184,047 319,174 309,878 Public works 897,334 927,032 919,529 980,329 Industrial development 297,788 210,253 1,261,582 81,704 Economic development 153,764 168,353 212,274 131,452 Capital Outlay 2,553,143 595,495 1,703,768 541,862 Debt Service: Principal 517,725 342,045 1,150,444 707,505 Interest and fiscal charges 366,727 439,288 490,263 472,014 Issuance costs - - - - Total Expenditures 10,525,905 8,849,892 13,202,603 9,865,337 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES ( 1,304,004) 297,454 ( 3,461,470) 1,398,960 OTHER FINANCING SOURCES (USES) Sale of capital assets 1,985,786 - - - Release of reserve ( 769,300) - - - Note and Lease proceeds 950,986 1,368,851 - - Insurance recovery - - - - Issuance of refunding bonds - - - - Issuance of bonds - 1,090,000 1,674,000 4,097,000 Payment to refunding escrow agent - - - ( 3,762,314) Premium on issuance of bonds - ( 33,000) - 176,016 Transfers in 245,140 290,544 457,750 398,950 Transfers out ( 245,140) ( 290,544) ( 373,019) ( 398,950) Total other financing sources (uses) 2,167,472 2,425,851 1,758,731 510,702 NET CHANGE IN FUND BALANCE $ 863,468 $ 2,723,305 $( 1,702,739) $ 1,909,662 Debt service as a percentage of noncapital expenditures 11.1% 9.5% 14.3% 12.7% 66
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City of Red Oak, Texas Annual Compr
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Required Supplementary Information
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THE CITY The City of Red Oak (the
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at the intersection of State Highwa
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OTHER INFORMATION Independent Audit
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CITIZENS City Attorney Robert Hager
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Other Matters Required Supplementar
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Both of the government-wide financi
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Changes in Net Position Governmenta
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Governmental Activities Business-ty
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This requirement was met, and excee
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CITY OF RED OAK, TEXAS STATEMENT OF
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CITY OF RED OAK, TEXAS BALANCE SHEE
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CITY OF RED OAK, TEXAS STATEMENT OF
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CITY OF RED OAK, TEXAS RECONCILIATI
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Page 51 and 52: Governmental fund financial stateme
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Page 57 and 58: IV. RECEIVABLES The City’s receiv
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Page 119 and 120: CITY OF RED OAK, TEXAS FULL-TIME EQ
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